M&A Deal Summary |
|
|---|---|
| Date | 2017-01-28 |
| Target | Seaway Bank and Trust Co. |
| Sector | Financial Services |
| Buyer(s) | State Bank of Texas |
| Deal Type | Add-on Acquisition |
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| Category | Company |
|---|---|
| Founded | 1987 |
| Sector | Financial Services |
State Bank of Texas is a provider of financial services in US. SBT had $740 million in total assets with a strong niche lending focus in the lodging industry. Based on return on average assets (ROAA), a metric Warren Buffett reportedly uses to identify the best big-bank investments, State Bank of Texas was one of the top banks with a return on average assets (ROAA) of 6.4 percent as of December 31, 2016.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector: Financial Services M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 1 of 1 |
| State: Illinois M&A | 1 of 1 |
| Country: United States M&A | 1 of 1 |
| Year: 2017 M&A | 1 of 1 |
